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20100101
20100131
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anything, do you think? >> well, becky, i think we're seeing in what goldman is doing, what bank of america is doing some sign that these bank executives are conscious, they're listening, they're reading the newspaper, they're getting the idea that they're behind the eight ball in terms of public opinion. they're trying to react. but of course, they have to balance the interest of their people and their need to keep talent which is the argument that they've been making. so yes, i think they are on notice and they ought to be on notice, given the nature of this election year that they're going to be in the spotlight not just this month or next month, but throughout 2010. >> where does health care stand, john? there are a lot of things going on, but we're not hearing anything. >> this is not a joint statement. >> this is very interesting, guys. they had an eight-hour meeting at the white house yesterday. now, everybody has been assuming this thing was going to kind of float along for the month and get done at the end of the month. but you could see yesterday the determination of the president
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fargo, jpmorgan and bank of america, among others. >>> the fdic geared up for a busy year of bank failureses. they will argue the agency is equipped with staff and the tools that are needed to handle failures. speaking yesterday, fdic chairman sheila bair warns troubles in the commercial sector will increasingly be a driver of bank failures this year. >> it's been a busy week. today's agenda will include goldman sachs. the company is expected to post earnings of $5.20 a share on revenue of $9.7 billion. shares of goldman are up about 141% in the last year. we will bring you the numbers as soon as they hit the tape this morning complete with instant analysis. >> get a look at futures this morning. dow action yesterday, not so good. a lot of that added to this morning on the numbers out of china. gdp for the fourth quarter 10.7 and for the year, 8.7%, which is above the target of 8%. people are now saying, whoa, maybe guys like chanos are right. >> maybe that's why we saw the banks move yesterday in china. >> i saw a lot of interesting analysis on what these mean in terms of is more
will report quarterly results. we'll get earnings from baj of america, morgan stanley, wells fargo. paul miller joins us from d.c. good morning to you. >> good morning. >> as analysts go on the street, you're toward the low end, especially regarding b of a, right? >> yeah. we're towards the low end. really on the fourth quarter, nobody cares about what earnings are going to be. they're going to care what the top line revenues are going to be. really, the earnings estimates, a lot of news for all of they also estimates because of the t.a.r.p. payback and all that noise. i don't think people are going to focus on the headline noise. >> what in the outlook are you curious about? is it the trajectory for quarters to come? >> well, i think the credit costs, i think investors accept the fact that credit is going to be high and elevated for a long period of time. the pretax provision has been a focus and right now it's a did it of a disappointment so far. so far, the top revenue lines have not been that great. your broker-dealer type aspects are not doing that well. and morgan stanley is starti
to work. that's what happens. history tells us that's what happens. i can't imagine in america that keeps 7.2 million people unemployment. i don't think it's going to happen. i don't understand. >> they say they're going to work at walmart and mcdonald's, that there's nowhere else to work any more. that's what the naysayers would say. >> there's a shadow of banking people not coming back housing structurally gone. >> housing is very affordable right now. if you look at housing affordability -- >> if you have a huge down payment. >> well, i think the problem right now is banks. nobody talks about it this way, but i think banks don't want to make home loans? why don't they want to make home loans? people want 30-year home loans because rates are low. banks don't want to put mortgages on at these levels. i re-fi'ed my home and it was painful. they're stretching it out so not too many people can re-fi. the credit hurdle has to be huge. as a result, they won't put too many asset on their books at these low interest rates. nobody is talking about it, but that is what is happening in housing. ho
surprising. and if you look at that and drill down by region, north america had 88% of respondents said they're still over capacity today, today. europe was around 80%. even asia had 75%. and if you think about that, and i've been discussing this a lot with some of my clients, and i think what they're anchoring on is historically we've had automotive sales of around 16.7. you start in 1999 all the way to 2008 they've been around 17 million, drops to 13.6, and now 10.4. so i think what people are saying at 10.4, they're still over capacity. but i think the real question is, where is it going to go? how are we ever going to get back to the steady state level or are we going to have continual, you know, restructurings going on. the other incapacity to think about is europe. they really didn't do any restructuring. and yet they were lower in terms of the survey results of overcapacity. i was somewhat surprised about that. also in the survey you talk about asia eventually will have overcapacity issues. very interesting on the capacity side. >> yeah, that is a level of concern. we don't have a who
. that's happening now. america's most dependable 3g network. bringing you the first and only wireless 4g network. right now get a free 3g/4g device for your laptop. sprint. the now network. deaf, hard-of-hearing and people with speech disabilities access www.sprintrelay.com. >>> welcome back. we continue to follow the latest developments out of haiti this morning. the badly damaged seaport and airport are hindering efforts. 800 u.s. military troops and a navy aircraft carrier are on the way. they will help deliver aid and provide security. the president pledging $100 million for haiti disaster relief. the men will lead private sector fund-raising efforts. president clinton will join us live this morning at 7:00 a.m. eastern time. he's the u.n. envoy to haiti. he was on "nightly news" last night. wrote a big piece about it. let's get to the weather this morning and the weather channel. our friend, scott williams, and a forecast of the weekend. scott, good morning to you. >> good morning, carl. you'll see milder temperatures out today ahead of a weak frontal boundary. friday and saturday,
. i think you'll see more government intrusion into corporate america via regulations and i think that's a headwind postponed. >> jeff, thank you very much for joining us. michelle, thank you for joining us in studio. >> thank you. >> as we go to break, let's get a look at yesterday's winners & losers. >>> welcome back, everybody. let's check in with scott williams over at the weather channel. >> good morning, becky. we have the colder air in place, but in many locates when you step outdoors this morning, it's not as cold as it was this same time yesterday. we'll get to that in a moment. take a look at some of the snow we have around watertown, buffalo, as we move into cleveland. as we move into the west coast, this is very active. portland through san francisco watching for rain and wind. as far as the airport delays, as we move into san francisco later on, we'll go on hour by hour for you. that green lit will go into the yellow. some light snow this morning around the cleveland area, that could cause moderate delays. temperatures topping out in the mid 20s. as far as the overall airp
morning. >> good morning. i'm joined by jim o'donnell, president of bmw north america. interesting show. last year it was really gloom and doom. this year it's an industry trying to find itself a bit. >> yes. last week was a wake. that's an exaggeration. a wake is fun in ireland. here it was terrible. this year you are walking around the show and you see it looks better. the americans are back. last year it was just german manufacturers. bmw, mercedes and volkswagon group. >> will you take a reduction in 20% but will you take that? >> we would have taken anything. it was down 20%. our mix was better. we made more money. we managed it better. we got cost under control. we actually were okay for last year. >> that's going to be a lot of focus about electric vehicles here. the question becomes is bmw the company going electric and how quickly are you going electric? you have the mini e and we'll talk about the active e in a bit. when you look at the electric market, where are we in that whole stage in terms of you have your tree huggers that want it now and others that say never. i want my
are secretly checking email on vacation. that's happening now. america's most dependable 3g network. bringing you the first and only wireless 4g network. right now get a free 3g/4g device for your laptop. sprint. the now network. deaf, hard-of-hearing and people with speech disabilities access www.sprintrelay.com. >>> welcome back, everybody, to davos and the world economic forum. joining us now, jeff jarrett, ceo and chairman of manpower, and he has a good idea of what's been happening in the jobs market right now. jeff, thanks a lot for joining us. we appreciate it. >> great to be here. >> for people who don't know what manpower does, you're number 119 on the fortune 500. you've got, i guess, offices in 82 different countries around the globe where you can really see from temporary hiring and full-time staffing what's happening. so what does the jobs picture look like? >> no doubt this has been a confusing time. it actually goes back to, if you looked at the middle of last year, we were starting to see improvement. and europe was improving before the u.s. which had never happened before in
. and 1300 are secretly checking email on vacation. that's happening now. america's most dependable 3g network. bringing you the first and only wireless 4g network. right now get a free 3g/4g device for your laptop. sprint. the now network. deaf, hard-of-hearing and people with speech disabilities access www.sprintrelay.com. >>> reporting live from davos, here again, becky quick. >> welcome back, everybody. right now we are joined by our media roundtable to get the feel of what's really been happening behind the scenes here in davos. joining us this morning is andrew ross sorkin of the new york times and robert editor, of time international. we have people come in and say, this is the most important stories. a lot of times they're talking about the headlines and the panels. but what's happening in davos is what's happening in the conversations behind, and that's where you pick up a lot of the juiciest conversations and news, really, right? >> right. >> this year i think the focus has been more on what's happening out of washington more than any year i've been here. would you agree with
? >> yeah. it was really cool. tomorrow, a parade of financial names, including bank of america, morgan stanley, a big article on goreman over the weekend. >> yes. and mac. >> background. wells fargo, state street, u.s. bancorp. goldman sachs, google after the close on thursday. southwest air, united health, union pacific, capital one and purlg ton northern. then friday, general electric. are you here friday? you do this every -- >> no. you do this every quarter. >> i do ge. >> nope, nope, usually you're gone. >> you're never here for ge. >> you're never here. you play in tournaments. >> that was at the bob hope where i'm not playing this year. but you were not here. >> i wish i were. mom is coming in to see the girls. she hasn't seen them in a few months. >> ge no longer holds your future in its hands. >> absolutely. don't listen to him. >> harley davidson is coming out. kimberly clark, she'll be reporting and slumber shay will be out, also. >> meantime, let's get a check on the markets this morning, joe. 00 points. >> yes. >> it doesn't sound like a lot, but it's the worst point and p
to neutral from underperform at bank of america. ubs is talking about the retirement of james mullin. he is 51 years old. and carl ikahn tried to have the company sold a couple of years ago. a lot of this has to do with tysabrik, the m.s. drug it tried to develop and some of the problems the company has had with that drug. the reason ubs is making positive comments is that if mr. mullen were to leave, that it would increase the speculation on a possible sale of the company. it's a 15.5 billion biotech company. elsewhere, a couple of these high flyer fertilizer stocks being mentioned by credit suisse, talking about potash upgraded to outperform from neutral. target has increased to 135 from 119. and then intrepid potash was upgraded to neutral from underperform. finally, radio shock upgraded from neutral to buy and added to the conviction list. the target increased to 21. they're rebranding this a little bit. i didn't know what they were talking about on the radio. have you heard it? got to go to the shack. have you heard it? >> yeah. >> i thought that was brian shactman. when i say the s
's north america ce on. good to have you back. >> great to be here. thanks. >> the debate over whether it's positive or negative, is that significant to you, or not? >> the survey margin of error is plus or minus 100,000. so whether it's minus 50,000 or plus 50,000, it's basically no job losses and/or no job growth the that's where it comes out. >> it's more of a mood setter, right? >> i think that's true. i think there are two other numbers that come out. the first will be the average hours during the workweek. we saw an increase from 33.on 0 to 33.2. that shows that the companies are using the capacity that they have in place. and the second factor is the number of temporary jobs. that number has begun to sway and since august when we've been getting together, i've told you it's getting better, it's getting better and we're seeing that temporary number continue to rise. that's where companies go first. they use their existing employees in place more and they go to the temporary and contract market before they get heavy into the market of hiring again. and we're seeing that transition ta
by these potential rules, what it's going to mean. how would you actually break up a bank of america and a merrill lynch that they just put together. how would you make sure that these banks aren't bigger than 10% of deposits, especially when you start including some of the other assets? >> the banks that were investment banks that took the charter -- >> i guess you throw off your charter, right? >> can you do that? >> sure. but they also have questions about what it means if goldman sachs was still a charter bank. it put some of its own funds into the private equity funds where it's making betts for its client which it will have to figure out a way to spin that off. >> thls thooefr they're buying first and then putting all the clients' money in. the other thing that will be interesting, everything has a political backdrop to it, as well. initially, some republicans are maybe not embracing this. you can see someone saying, well, we want to take a closer look. >> although mccain says this looks closer to what i've been talking about. >> he's always been a moderate. so we'll see. but you wouldn't ne
regulation and a lot of voices talking about the need for that and, yet, what business needs in america is less regulation. >> one of the things he talked about is making money available to small banks so they can make a loan. >> right. >> you're one of the cochairs for the 10,000 small businesses program that goldman just announced. which by the way took a lot of flack when it did, which is just a pr move. >> yes. >> what is going on with that program? >> it's called 10,000 small businesses. it's about building small businesses, but it's focusing on disadvantaged communities where businesses have lacked a lot of the assets and the resources and the capital they need. the goldman program is focused on training for leadership teams and management teams. it's also focused on providing capital for small businesses through the community development financial institutions, which are the very kind of institutions the president was talking about in his speech. >> is it up and running? >> the first region will start in april. so i think the goldman program, the reason i'm so excited about it is
of america board member. is he back in for sure? i saw that he was on. anyway -- he's not back. >> i don't think so either. >> anyway, were you really going to tune in for that? >>> in 30 minute, paul kanjorski, he wrote the amendment -- we love him but i don't know that -- >> i think he had to stay home today. >> why? >> he couldn't do it today. >> yesterday i saw that and my e-mail hasn't worked for 24 hours and i still new. regulatory to break up too big to fail financial institutions and then we'll hear from the other side of the aisle, ron paul, the congressman with his view on the bank backlash. >>> first, a look at what is making headlines this morning. >> let's get a check on the markets right now. we've been watching those futures. they have been indicating a sharply higher open this morning. those dow futures are higher by better than 100 points. when checking out the future. this is coming after a terrible week last week for the dow. it was down 4.1%. the s&p 500 down by 3.7%. meantime, in headlines this morning, some are hoping for hiring. the national association for busines
are iming on a ferry. and 1300 are secretly checking email on vacation. that's happening now. america's most dependable 3g network. bringing you the first and only wireless 4g network. right now get a free 3g/4g device for your laptop. sprint. the now network. deaf, hard-of-hearing and people with speech disabilities access www.sprintrelay.com. >>> let's take a look. shares of verizon right now -- well, we'll see how they're doing. dow component, you've got a sense for them. >> not really. >> that's not going to help you much. >> 3015 from 30167. a bid/ask is always better. but, whatever. >> yeah, whatever. whatever. 54 cent a share. revenues roughly in line, a bit short, perhaps. let's take a little bit more of a look at the numbers. joining us on the "squawk" news line to tackle these numbers, christopher king, senior analyst at stiffle and company. christopher, anything stand out to you from this earnings report? >> good morning. fairly unspectacular quarter, really, across the board. i think one of the major headlines is going to be that we really see very little improvement from an econ
: lessons from some of america's top business minds." pick up a copy at a local bookstore near you. well, look who's here. it's ellen. hey, mayor white. how you doing? great. come on in. would you like to see our new police department? yeah, all right. this way. and here it is. completely networked. so, anything happening, suz? she's all good. oh, my gosh. is that my car? [ whirring ] [ female announcer ] the new community. see it. live it. share it. on the human network. cisco. national car rental knows i'm picky. so, at national, i go right past the counter... and you get to choose any car in the aisle. choose any car? you cannot be serious! okay. seriously, you choose. go national. go like a pro. >>> the countdown is on. investors anxiously awaiting friday's jobs report. today we get a warm-up with some key data on the state of the labor market. >>> the former chief accountant for the united states is here. ♪ david walker. why he thinks the biggest concerns this year are the fight against unemployment and dealing with the deficit. >>> failing to connect the dots. the president says
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